Flex Space with High-Ceiling
214 6th Avenue E Alexandria, MN 56308
214 6th Avenue E, Alexandria, MN, 56308
$239,000
For Sale
$239,000
Includes a high-ceiling back shop for storage and an upper level that previously served as an apartment.
Property Size3,848 SF
Price / SF$62.11
Days on Market105
Property Features for 214 6th Avenue E
General Information
- Standard status
- Active
- Size
- 3,848 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Crown Realtors
(320) 266-4776
Listed by
Patrick Collins
(320) 266-4776
Source
Juverealestate
Added: Apr 9 Updated: Jul 22 at 9:07AM Checked: Jul 22 at 9:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Crown Realtors
Investment Insights
Based on property information with market context.
This flex space property offers a configuration suited to both working and storing. The back shop provides substantial storage capacity and impressive high ceilings, supporting light industrial or service-oriented use. The upper level previously served as an apartment, creating a separate, adaptable component within the building.
Located near downtown Alexandria, MN, the property’s layout supports day-to-day business activity on the main level while retaining the option to repurpose the upper space based on your operational needs.
A key feature for prospective owners is the shop’s ceiling height and the existing back-shop storage orientation. The property also presents opportunities for updates, including room to install multiple tall garage doors with modifications.
Located near downtown Alexandria, MN, the property’s layout supports day-to-day business activity on the main level while retaining the option to repurpose the upper space based on your operational needs.
A key feature for prospective owners is the shop’s ceiling height and the existing back-shop storage orientation. The property also presents opportunities for updates, including room to install multiple tall garage doors with modifications.
Key Highlights
- Built in 1900
- Back shop offers high ceilings and storage space
- Upper level previously served as an apartment
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.3k | $8.40 |
| − Vacancy | −$2.7k | −$0.70 |
| EGI | $29.6k | $7.70 |
| − OpEx | −$10.4k | −$2.70 |
| NOI | $19.3k | $5.01 |
3,848 SF · lease $8.40/SF/yr · vacancy 8.30% · expense 35.00%
Alternative Uses
Best Use
Warehouse
$426.8K
$373.4K – $497.9K
NOI $29,873 @ 7.0% cap · market cap 12.50%
Second Best
Industrial
$332.5K
$290.9K – $387.9K
NOI $23,273 @ 7.0% cap · market cap 9.74%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $84,927 @ 7.0% cap · market cap 35.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- A'BriTin Catering & Events - Alexandria, MN — 1215 Broadway St, Alexandria, MN 56308
- Depot Smokehouse and Tavern — 104 Broadway St, Alexandria, MN 56308
FAQs
What type of property is this?
Flex space - Includes a high-ceiling back shop for storage and an upper level that previously served as an apartment.
Where is this flex space located?
The property is located at 214 6th Avenue E Alexandria, MN.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Built in 1900; Back shop offers high ceilings and storage space; Upper level previously served as an apartment
